Mine FinancingHello fellow shareholders, I see alot of posts on "how is AGG going to finance this mine". Unless I'm missed an update saying otherwise, on Oct 11, 2017 AGG released, entering a binding LOI with Hummingbird Resources for strategic Investment and joint development of the Kobada Gold Project.
Looks as though HUM acquires up to 19.9% for 8 mil and they fund 100% of the capital costs to build the mine and prossing plant, for a 50/50 joint venture. 70% of the net cash flow goes to HUM until all such capital costs are repaid and then cash flow is shared 50/50. Obvisouly the news release has alot more in it then that BUT if AGG completes the DFS and honors their end, it looks as though we are already in line with a joint venture to fund the project.
I'd like to put this out there to gather your take on this? Maybe I've missed something that's made this void? Where do you think this leaves AGG stockholders if this goes through?